FED:Court to deliver James Hardie decision

A taxation decision on a subsidiary of
James Hardie Industries
will be handed down by the Federal Court of Australia on Monday.

James Hardie said in a statement on Friday that it would request a trading halt to its securities on the stock exchange on Monday until the announcement was delivered.

The judgment concerns RCI Pty Ltd, a subsidiary of James Hardie, and the Commissioner of Taxation, over a tax matter dating back to 2006.

In September 2010, James Hardie Industries SE announced it would appeal a Federal Court decision that upheld a ruling that the building materials maker RCI owes back taxes of about $US318 million ($304 million).